Corvis Reports $7M in Q4 Revenue, Ends Year With $504M in Cash

Corvis reported Q4 revenues of $7.1 million and a net loss was $190.2 million, or $0.47 loss per share. Pro forma net loss, excluding special charges for write-downs and restructuring, was $46.0 million, or $0.11 loss per share. The company ended Q4 with $504.4 million in cash and virtually no debt, down from $548.7 million at the end of Q3. Revenue for the quarter was generated from existing customers Qwest, Broadwing and France Telecom. On January 29, Corvis announced a workforce reduction of 180 positions, mostly in its R&D group.
http://www.corvis.com